Brazil’s Gol Expecting to Raise Up to US$ 350 Million in Global Market

Gol Brazilian Airline Brazilian Airline Gol has filed a registration statement with the Securities and Exchange Commission for a proposed global offering of preferred shares, including preferred shares in the form of American depositary shares ("ADSs"), by the Company and ASAS Investment Fund, the Company's controlling shareholder.

Gol expects the gross proceeds from the primary portion of the global offering to be between 550 million reais (US$ 300 million) and 650 million reais (US$ 350 million), depending on market conditions.

The offering of preferred shares in Brazil will be registered with the Comissão de Valores Mobiliários, the Brazilian securities commission.  ASAS Investment Fund will invest the entirety of the proceeds (excluding proceeds from the sale upon the exercise of any over-allotment options, if any) received from the sale of preferred shares, including in the form of ADSs, in common shares newly issued by the company.

The company intends to use the proceeds from the global offering and the concurrent subscription of common shares by ASAS Investment Fund primarily for general corporate purposes and to strengthen its balance sheet, particularly its cash and cash equivalents position.

The international offering will be led by BofA Merrill Lynch, Banco Itaú BBA, Morgan Stanley and Bradesco BBI, as joint bookrunners.  BB Securities Limited is acting as placement agent outside the United States.

A registration statement relating to the offering of these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

When available, copies of the preliminary prospectus may be obtained by contacting BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department (collect call 1-212-449-1000); Itaú USA Securities, Inc. at 540 Madison, 23rd Floor, New York, NY 10022, Attention: Prospectus Department//Renata Comeaux  (collect call 1-212-710-6756); Morgan Stanley & Co. Incorporated, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department (toll free 1-866-718-1649, or prospectus@morganstanley.com); or Bradesco Securities Inc. at 126 East 56th Street, 9th Floor, New York, NY 10022, Attention: Prospectus Department (collect call 1-212-888-9142).

Gol Linhas Aereas Inteligentes S.A. offers around 800 daily flights to 49 destinations that connect all the important cities in Brazil and nine major destinations in South America. The company operates a fleet of Boeing 737 Next Generation aircraft.

Tags:

You May Also Like

Rural Exodus in Brazil High Among Young Women

A survey by Brazil’s Applied Economic Research Institute (Ipea) has found that although the so-called ...

Brazil to Sell 7 Million Popular Computers. Only 17% of Homes Have One

Brazil’s National Economic and Social Development Bank (BNDES) announced Monday, February 13, its approval ...

Brazil’s Gay and Lesbian Federation Gets Advisory Status at UN

UN's Economic and Social Council (ECOSOC) granted consultative status to the Brazilian Federation of ...

Brazil Government Blames Congress for Use of Transgenics

Responding to criticisms made by social movements and non-governmental organizations (NGOs) about authorizing the ...

Brazil: Their Business Are Soccer Jerseys from All Over the World

Supporters of Arab teams who live in Brazil are getting ready to see Saudi ...

US Broadband System to Be Used in Brazil’s Education Project

Atlanta-based Wave7 Optics Inc., a world supplier of point-to-multipoint Ethernet FTTP (fiber-to-the-premises) systems for ...

Making Police Less Threatening than Bandit Is Challenge for Brazil

Representatives of 12 South American countries are meeting in BrasÀ­lia, capital of Brazil, for ...

Brazil Gets Ready to Grapple with Bird Flu

The government of the southeastern Brazilian state of São Paulo announced Tuesday, October 25, ...

Exchange Rate Hurts Brazil’s Shoe Exporters

Brazilian footwear exports dropped 16% in March, and 11% in the first quarter of ...

Cell Phones Lead Exports from Brazil’s Industrial Hub of Manaus

The Industrial Hub of Manaus, capital of the northern Brazilian state of Amazonas, posted ...